Industry News

What is the Future of Lithium Air Batteries?

Plummeting
battery prices and increasing applications in electric vehicle, smart devices,
etc. on account of ultra-light weight are anticipated to drive the global
Lithium Air Battery market through 2026.

Introduction
to Next Generation Battery Technology: Lithium Air Batteries

The lithium
air battery, also known as lithium oxygen battery refers to the type of battery
which is utilizing the lithium oxidation reaction to produce current. The
lithium air battery combines the features from both lithium and oxygen, thereby
possessing nearly 5 to 15 times of specific energy and almost 3 times of power as
compared to the traditional lithium ion batteries. Moreover, the lithium air
batteries have the potential to store over 40 times the charge as that of a
normal Li-Ion battery of similar weight. The rechargeable Li-O2 batteries
features ultra-light weight and high energy density which is making them a
preferred choice for electric cars and other portable electronic devices.

The latest and
most trending news to hit the Global
Lithium Air Battery Market is that the subsidiary of Japan based multinational
automotive manufacturer, Toyota
Motor Europe is among the chief funding organization supporting the novel
research carried out by research team of Massachusetts Institute of Technology.
The primary focus of the new MIT study is the discovery of potential leads in
lithium air battery technology which promises to triple the power per weight of
conventional lithium-ion batteries.

The recent
TechSci Research Report on “Global Lithium Air Battery Market, Competition
Forecast and Opportunities, 2012-2026” talks about various salient points of
the Global Lithium Air Battery market. Here is the gist on potential driving
forces playing a pivotal role in the Global Lithium Air Battery Market:

How
are Lithium Air Batteries, a profitable option for Electric Car Manufacturers?

The
conventional lithium ion batteries offer a driving range of approximately 100
miles on a single charging cycle and are considered to be the costliest affair
in the manufacturing of an electric vehicle. As a result, the new and
innovative lithium air batteries are gaining traction in the automotive
industry on account of high performance features provided at a cheaper cost.

Plummeting
battery prices and increasing applications in electric vehicle, smart devices,
etc. on account of ultra-light weight are anticipated to drive the global
Lithium Air Battery market through 2026.

Introduction
to Next Generation Battery Technology: Lithium Air Batteries

The lithium
air battery, also known as lithium oxygen battery refers to the type of battery
which is utilizing the lithium oxidation reaction to produce current. The
lithium air battery combines the features from both lithium and oxygen, thereby
possessing nearly 5 to 15 times of specific energy and almost 3 times of power as
compared to the traditional lithium ion batteries. Moreover, the lithium air
batteries have the potential to store over 40 times the charge as that of a
normal Li-Ion battery of similar weight. The rechargeable Li-O2 batteries
features ultra-light weight and high energy density which is making them a
preferred choice for electric cars and other portable electronic devices.

The latest and
most trending news to hit the Global
Lithium Air Battery Market is that the subsidiary of Japan based multinational
automotive manufacturer, Toyota
Motor Europe is among the chief funding organization supporting the novel
research carried out by research team of Massachusetts Institute of Technology.
The primary focus of the new MIT study is the discovery of potential leads in
lithium air battery technology which promises to triple the power per weight of
conventional lithium-ion batteries.

The recent
TechSci Research Report on “Global Lithium Air Battery Market, Competition
Forecast and Opportunities, 2012-2026” talks about various salient points of
the Global Lithium Air Battery market. Here is the gist on potential driving
forces playing a pivotal role in the Global Lithium Air Battery Market:

How
are Lithium Air Batteries, a profitable option for Electric Car Manufacturers?

The
conventional lithium ion batteries offer a driving range of approximately 100
miles on a single charging cycle and are considered to be the costliest affair
in the manufacturing of an electric vehicle. As a result, the new and
innovative lithium air batteries are gaining traction in the automotive
industry on account of high performance features provided at a cheaper cost.

The global boom caused by electric vehicle is immensely supporting the developments in lithium air battery technology, which makes use of surrounding air as an active cathode for electricity generation, thereby reducing the overall weight of the cars. The light-weight design for new range of engineered EV models and brands would boost the sales and demand for electric cars due to added relevance to the environmental impact.

Total Sales of Electric Vehicles in Selected
Nations, By Type, 2016

Source: International Energy Agency (IEA)

In addition
to this, the Li-O2 batteries are showcasing the capacity to store 700% of power
as compared to ordinary Li-Ion batteries which allows them to run an electric
car to a distance of 500 miles by charging once at an average cost of USD10. As
a result, the growing preference for battery driven cars over fuel-driven
vehicles is resulting in environmental as well as economic benefits, which
would continue to drive the innovations and improvements in the lithium air
battery market as well.

Rising
Demand from Consumer Electronics Segment:

The increasing penetration of lithium batteries in
consumer goods and electronic appliances such as smartphones, smart wearables,
smart home appliances, etc. is opening opportunities for growth in global
lithium air battery market. The increasing demand from consumers regarding
thinner and smaller and advanced performance featuring battery products are
catalyzing the application of lithium air batteries in smart devices and
laptops, computers, etc. Moreover, the miniaturization of mobile electronics is
driving the demand for light-weight and cheaper lithium air battery cells and
packs to sustain the energy and power requirements of portable devices
industry.

Conclusion:

In
conclusion, the Global Lithium Air Battery Market is projected to witness
double-digit growth at a CAGR of more than 10% during 2017-26 owing to the
rising applications in hybrid and electric vehicles and consumer electronic
appliances such as wearable electronics, etc. owing to their light weight. The
growth in the global lithium air batteries market can be attributed to the
various technological developments undertaken by battery manufacturers across
the world. Moreover, the increasing penetration in advanced industrial applications
such as drones and robotics, etc. on account of falling prices of lithium
batteries is further anticipated to boost the Global Lithium Air Battery Market
over the coming years.